Chairman Board of Investment Zubair Gilani, who took over the charge last week, is determined to steer the board towards promoting regional trade, manufacturing economy and export-led growth besides discouraging red-tapism to encourage investment culture in the country.
The regional trade, especially with neighboring countries, including energy rich Central Asian Republic (CARS) is the priority of the government, he said in an exclusive interview with APP here Tuesday. The trade with neighboring countries would help increase the local exports and decrease the trade deficit.
He said that the nine Special economic Zones (SEZs), being established along the China Pakistan Economic Corridor (CPEC), offer huge opportunity to the foreign and local investors in terms of low cost business facilities including low cost energy, decade long tax free zones and provision of land on lease. He said that BOI was committed to ensure facilities for starting new business, property registration and resolving insolvency for ease of doing business, especially for Small and Medium Entrepreneurs (SMEs) in Lahore and Karachi.
He said the government has been working to improve all the nine indicators of ‘Ease of Doing Business’ including starting business, paying taxes , getting credit, resolving insolvency, getting construction permits, trading across the borders, property registrations, getting electricity and enforcing contracts to be implemented for attracting the foreign investment in the country.
Through integrated approach and the coordination between all the concerned institutions, including Security and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR), a mechanism would be developed for improving ease of doing indicators.